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A rising number of households on the cusp of financial stress, but RBA says banking system isn't at risk

Source: abc.net.au abc.net.au
News Snapshot:

Australian homes and businesses are vulnerable to financial stability risks as rising inflation and interest rates continue to pressure the global economy. Key points: Australia's financial system is well-placed to deal with global economic shocks Australia's financial system is well-placed to deal with global economic shocks The share of households falling behind on their mortgage payments has picked up a little The share of households falling behind on their mortgage payments has picked up a little Despite rising rates, the vast majority of households are servicing their debts A growing share of Australian households have also been seeking financial counselling…

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